The India menthol market size reached USD 114.45 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 225.57 Million by 2033, exhibiting a growth rate (CAGR) of 7.22% during 2025-2033. The market is experiencing steady growth due to rising demand from the pharmaceutical, food, and personal care industries. Furthermore, the rising health consciousness along with the growing food and beverages sector are positively impacting the market growth.
Report Attribute
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Key Statistics
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Base Year
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2024 |
Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 114.45 Million |
Market Forecast in 2033 | USD 225.57 Million |
Market Growth Rate 2025-2033 | 7.22% |
Rising Demand for Menthol in Pharmaceuticals
The use of menthol in drugs like pain-relieving ointments, cough syrups, and throat lozenges has gone up substantially in India. In addition, the demand for menthol products is growing because of their calming effect, with awareness of health and wellness on the rise. Moreover, the growth in the incidence of respiratory and arthritis-related ailments has also accelerated the demand for menthol in topical analgesics and medicated creams. Further, menthol is used extensively in dental care and personal care products, boosting its use in the market. The constant rise in the growth of the Indian pharmaceutical industry, supported by local as well as global players, has provided new opportunities for menthol manufacturers. Consequently, market growth is expected to continue increasing through the increased application of menthol-based products for prophylactic and therapeutic purposes. In turn, producers are concentrating more on enhancing the process of extracting menthol, which increases the efficiency of manufacturing and reduces production costs. Besides, partnerships between menthol suppliers and pharmaceutical firms are improving product innovations within the industry, thereby offering industry players a competitive advantage.
Expanding Role of Menthol in Food and Beverages
Menthol is finding wider applications in the food and beverage industry, mainly for flavor product manufacture, such as gums, candies, and soft drinks. In India, with a rise in demand for flavored food and beverages, menthol has emerged as a major ingredient to give an agreeable taste and cooling effect. In addition, rising disposable income and shifting consumers' preferences towards novelties and new flavor sensations are fueling the increase in the use of menthol in food and beverages. Apart from this, the increasing popularity of menthol in mint-flavored beverages, such as energy drinks and health drinks, is due to consumers looking for products that provide refreshments as well as health. The growth of the food processing sector, along with rising exports, is also driving demand for menthol. Along with this, the application of menthol in the improvement of sensory experiences will remain at the forefront of the industry's growth, with firms venturing into new segments. Besides that, the need for organic and natural ingredients in food has led to the use of natural sources of menthol by manufacturers due to pressure from market demands for purity and product sustainability.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region/country level for 2025-2033. Our report has categorized the market based on product type, form, and application.
Product Type Insights:
The report has provided a detailed breakup and analysis of the market based on the product type. This includes natural and synthetic.
Form Insights:
The report has provided a detailed breakup and analysis of the market based on the form. This includes crystalline solid, powder, and liquid.
Application Insights:
The report has provided a detailed breakup and analysis of the market based on the application. This includes medical products, flavouring/additives, oral care, and others.
Regional Insights:
The report has also provided a comprehensive analysis of all the major regional markets, which include North India, South India, East India, and West India.
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Million USD |
Scope of the Report |
Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
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Product Types Covered | Natural, Synthetic |
Forms Covered | Crystalline Solid, Powder, Liquid |
Applications Covered | Medical Products, Flavouring/Additives, Oral Care, Others |
Regions Covered | North India, South India, East India, West India |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |